BOULDER, Colo., July 9, 2019 /PRNewswire/ -- Techstars, the worldwide network that helps entrepreneurs succeed, and Hillstone Partners, a boutique capital consultancy firm specializing in startup business, announced today the launch of the Techstars Korea Accelerator in partnership with Hillstone Partners. The new three-month mentorship-driven accelerator program, Techstars' first in Korea, will source 10 top performing startups per year. The accelerator will support and nourish the Korean startup ecosystem and is open to startups focused on digital and tech innovation across a variety of business verticals.
The accelerator will be hosted at the Pangyo Techno Valley campus (PTV), a business and innovation hub focused on information technology, biotech, cultural tech, and fusion tech. PTV is located in the major metropolitan area of Pangyo, Seongnam, Gyeonggi Province, South Korea, also known as the Silicon Valley of Korea, approximately 30 minutes from downtown Seoul.
Techstars' expansion to Korea marks its commitment to continued global expansion and efforts to help entrepreneurs succeed across the world. Korea is an attractive market for Techstars, considering the country's recent rise on the scene as a global startup hub, the active and well-designed innovation ecosystem, and the support from public and private sectors of the nation's tech scene. Techstars will join the ranks of other US-based tech companies such as Google and Facebook that have set up shop in past years.
"Korea's booming startup sector and Pangyo's thriving tech ecosystem are the perfect ingredients for this accelerator program," said Will Robinson, Vice President Asia Pacific Sales at Techstars. "With Hillstone Partners' 10+ year commitment to the region's startup community, and our experience propelling startup growth through mentorship and the Techstars network, we are well positioned to deliver an incredible and impactful accelerator in Pangyo. This is a very exciting move for Techstars, considering Korea's access to other major Asian markets, the country's massive internal market, and the public and private sector's interest in mobilizing the tech industry."
"Working with Techstars, we are excited to help develop growth opportunities and international and global impact for Korean startups," said Rayol Hwang, CEO at Hillstone Partners. "Given Techstars expertise running accelerator programs across the world, as well as its deep network, we know this partnership will drive a significant degree of long-term impact, growth, and success for our startup community in Pangyo. This partnership will drive the continued development of our startup ecosystem and contribute meaningfully to our country's focus on and dedication to South Korea's status as a major startup, tech and innovation leader."
Applications for Techstars Korea in partnership with Hillstone Partners will open in December of 2019, with the program running from June 2020 through September 2020. Startup companies interested in learning more about the program are encouraged to contact Techstars or visit the Techstars Korea in partnership with Hillstone Partners page.
Techstars is the worldwide network that helps entrepreneurs succeed. Techstars founders connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporations to grow their companies. Techstars operates three divisions: Techstars Startup Programs, Techstars Mentorship-Driven Accelerator Programs, and Techstars Corporate Innovation Partnerships. Techstars accelerator portfolio includes more than 1,700 companies with a market cap of $20 Billion.
About Hillstone Partners
Hillstone Partners was originally established as CGI Korea in December 2010 as a private equity fund manager. Hillstone has since delivered expertise in IT, gaming and clean technology sectors with a strong network of influence in the Asia Pacific. Since founding, Hillstone played key roles in cross-border M&A, helping Korean startups access foreign markets. Recently, it established a blockchain-cryptocurrency fund to connect startups with global VCs, contributing to the development of the technology-based startup ecosystem in Korea.